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President Barroso and Azerbaijan President sign a Memorandum of Understanding on energy partnership

07 November 2006 17:19 (UTC +04:00)

The Memorandum includes four main priorities: gradual harmonization of Azerbaijani legislation with the Community legislation in the energy field leading to the convergence of the electricity and gas markets, enhancing the safety and security of energy supplies and transit systems from Azerbaijan and Caspian basin to the EU, development of a comprehensive energy demand management policy, technical Cooperation and the exchange of expertise. The implementation of the memorandum will allow achieving a better integration of Azerbaijan into European energy markets, strengthening EU energy security â€“ thanks to supplies from the Caspian basin â€“ and developing a more efficient energy demand management in Azerbaijan.
â€œWe are pleased that the EUâ€™s relations with Azerbaijan are strengthening through the European Neighborhood Policy (ENP). Our relations are also about pursuing shared European values of democracy, good governance, fundamental freedoms and the protection of human rights. We will continue to work with Azerbaijan in all of these political and economic areas,â€? President Barroso said. /APA/